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Contract is a milestone for Forest of Dean firm

By BHawes  |  Posted: March 24, 2014

Neill Ricketts

Neil Ricketts and Versarien team

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Versarien, the Forest of Dean-based advanced engineering materials group, has signed its first commercial contract for its revolutionary VersarienCu product.

Versarien won the contract for the development and pre-production for the heat spreading plates involved in the analysis of DNA.

The United States company involved has not been named.

Versarien has been working with the customer for two years and the product has been shown to improve system cooling performance by 35 to 100 per cent.

Neil Ricketts, chief executive of Versarien, said: "This first commercial contract marks a significant milestone and demonstrates the progress that Versarien Technologies has made towards commercialising its VersarienCu product.

"This is an extremely exciting period for Versarien with a number of additional opportunities emerging and we look forward to reporting on these in due course.

"It is a really big step in the right direction."

The company's innovative VersarienCu heat transfer material is said to be up to ten times more effective than conventional heat removal systems.

It involves the use of porous materials structured similar to a sponge which can disperse potentially damaging heat much faster.

And as heat is a major issue in the operation of most electronic components from computers to lighting the potential market is huge.

The Cinderford company floated on the AIM submarket of the London Stock Exchange in 2013 and has also acquired another company, Total Carbide which has been integrated into the firm.

In a trading update, Versarien, which employs around 20 people in Cinderford, said it continued to make good strategic progress.

Results for the second half of the year to March 31 were expected to be broadly in line with those of the first half.

The company said it continued to make progress with a number of large global organisations and now had customers developing VersarienCu in their own specific applications.

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